India-EU FTA blueprint for stronger, self-reliant nation: Adityanath

Lucknow, Jan 27 (PTI) Uttar Pradesh Chief Minister Yogi Adityanath on Tuesday said that the India-EU Free Trade Agreement marks a historic leap in India's global economic journey.

In a post on X, Adityanath said, "Under the visionary leadership of Hon. PM Shri @narendramodi Ji, the India-EU Free Trade Agreement marks a historic leap in India's global economic journey. This strategic pact integrates India with 27 European nations and ensures preferential market access for over 99 per cent of Indian goods, unlocking export potential worth nearly Rs 6.41 lakh crore, especially for labour-intensive sectors. "By empowering farmers, strengthening MSMEs, boosting manufacturing and services, and expanding opportunities for skilled professionals, this agreement becomes a blueprint for shared prosperity and a stronger, self-reliant India," the chief minister noted.

India and the European Union on Tuesday sealed a landmark free trade agreement -- billed as "mother of all deals" -- with Prime Minister Narendra Modi and the top EU leadership unveiling a grand agenda to leverage trade and defence to shore up ties and work towards a rules-based world order.

The two sides also inked two crucial pacts -- one on security and defence collaboration and another on the mobility of Indian talent to Europe -- after Prime Minister Modi hosted EU leaders Ursula von der Leyen and Antonio Costa for summit talks.

In line with their vision for a rules-based global order, India and the 27-nation bloc rolled out a joint comprehensive strategic agenda for the next five years and firmed up a total of 13 pacts, including one on the conclusion of negotiations for the FTA.

The finalisation of the trade deal came 18 years after the two sides began negotiations on it. It may take at least six months to formally sign the deal, as it will require legal scrubbing by both sides. PTI NAV MPL MPL